National Australia Bank expects to complete the nationwide rollout of its Personal Banking Origination Platform (PBOP) by the end of the calendar year, following trials in the South Australia and the Northern Territory.
The rollout is part of the biggest technology transformation in the bank's history.
The pilots encompassed more than 9000 transaction accounts, 4000 applications for credit cards or personal loans, and 700 home loans.
The bank says that the Oracle-based platform will speed up processing times for personal loan and credit card applications.
“This is another example of how NAB is future proofing our business to ensure we have the right infrastructure in place to deliver a faster and simpler customer experience,” NAB’s executive general manager, core banking, Steve Collier, said in a statement.
“As well as quicker turnaround times, we’re delivering a more transparent customer experience that keeps our customers updated throughout the progress of their loan or application via Internet Banking and SMS,” Collier said.
The PBOP pilot was one of the major technology milestones cited by NAB Group CEO Andrew Thorburn during his full year results presentation in October.
The other was completing the migration to NAB's Deer Park data centre, which originally opened in 2013.